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An Introspective Look at Business Competencies

Competencies refer to capabilities, abilities, skills, proficiencies, expertise and experience. This article looks at some of the more significant competencies business owners or entrepreneurs need to succeed.

As you read through the list, make a mental note of your strengths and weaknesses, what you are passionate about and dispassionate about, so that you can develop appropriate approach as a result. To build and grow a successful business, the key is to lead with your strengths and passions and seek support for any important issues where your strength or passion may not be as strong. Truth is, everyone can not be skilled at and passionate about each of the competencies

Business competencies provide a framework to manage organizational culture, and drive organizational performance.
Rate both your “skill” and your “passion” in each of the following competencies. If there are gaps, you should make sure you surround yourself with the appropriate support.

(high/med/low)

Skill

Passion

Client and Customer Focus
Adding value to clients by being perceptive and understanding their needs and then exceeding those needs. Consistently giving excellent service and operating in partnership with clients.

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Business Management and Development
Identifying and exploiting opportunities to increase margins or profitability. Building strategies in response to the changing marketplace.

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Planning
Creating action plans which effectively achieve business goals. Organizing work effectively so that priorities are met.

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Performance Focus
Maintaining energy and enthusiasm while focusing on delivering results.

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Working with, respecting and influencing others
Working co-operatively at all times for the good of the business. Having a positive influence even during complex or challenging situations. Responding constructively to differing viewpoints, feelings and motivations.

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Creativity, Innovation and Change Focus
Focussing on business issues and applying creative thinking to introduce new ideas to improve the business. Responding quickly and positively to changes with effectiveness and resilience in an ambiguous environment. Taking prompt action to seize opportunities or solve problems.

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Leadership and Team Development
Encouraging, coaching and supporting the performance of others while helping develop them to meet the business needs. Leading by example and inspiring confidence and respect while achieving success.

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Communication
Communicating clearly with impact. Making positive impressions on others through verbal and written communication. Defining and communicating goals while motivating others to achieve them.

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Subject Matter Expertise
Maintaining appropriate professional and specialist knowledge and skills. Consistently applying these skills to deliver quality. Sharing knowledge to help others succeed. Being recognized as an expert in your field.

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